Online Access Free 1Z0-1024 Practice Test

Identify four characteristics of a cost element.

• A.Users can define any number of cost elements.
• B.It is the granularity at which costs are tracked and accounted.
• C.It uses date effectivity.
• D.It is the most granular level of cost captured by upstream systems such as procurement, accounts payable, and manufacturing.
• E.The mapping of cost components into cost elements is user-defined.
• F.It is user-defined.

Identify four processors available in the cost processor.

• A.Cost of Goods Sold Processor
• B.Cost Distribution Processor
• C.Receipt Processor
• D.Cost Reports Processor
• E.Costing Period Processor
• F.Cost Accounting Processor

Identify four reasons to use the set ID when defining Cost Accounting setups.

• A.You can share definitions across multiple cost organizations.
• B.You can streamline your setup effort.
• C.You don't have to create any definitions for cost books.
• D.You can take advantage of the business unit-to-set ID mapping defined in Cost Accounting.
• E.You have the option to share setup data across all cost organizations using the common set.
• F.You can control which definitions are visible to different cost organizations

You have finished creating your sub ledger journal entry rule sets and see that they are still in the incomplete status. Which two steps will ensure that the journal entries are generated?

• A.Add the sub ledger journal entry rule sets to the Manage Accounting Methods task.
• B.Run the "Activate Accounting Methods" process.
• C.Add the sub ledger journal entry rule sets to the Manage Journal Entry Rule Set task
• D.Run the "Activate Sub ledger Journal Entry Rule Set Assignments" process.
• E.Validate the sub ledger journal entry rule sets using Validate Journal Entry Rule Set.

Identify two ways that standard cost is calculated.

• A.The cost of a configured item is calculated based on the work definition of the model item.
• B.The standard cost is the sum of the cost of the selected option items.
• C.The standard cost of the configured item is based on the purchase order price quoted by the supplier for the configured item.
• D.The roll-up calculation can be performed to update standard costs for Cost Accounting purposes
• E.Users must manually enter the cost of each configured item; the calculation is not automated.